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The lead shareholder in class actions against CBA has urged the High Court to take a "common sense" approach to loss causation in securities cases, as endorsed by the Full Federal Court in last month's ruling for Worley's investors.
A former financial advisor and his company have won court approval to run a claim challenging AMP's buyer of last resort policy, despite the company being a group member in a related class action that settled for $100 million in 2023.
CMC Markets wants a class action to fork over $8.6 million more in security after substantially amending its case, which alleges the financial services firm issued complex, risky derivatives that were not appropriate for retail investors.
A court has ordered Macquarie Securities to pay an agreed $35 million penalty after finding that “serious deficiencies" in its reporting systems resulted in repeated failures to accurately report short sales.
A class action against AMP over allegedly inflated insurance premiums has been ordered to better particularise its case, with a judge hearing the current pleading is "not good enough" for the wealth manager to put on a defence.
A class action against CMC Markets got the go-ahead Thursday to add new claims in its case centred on risky financial products, after trawling through 27,000 documents produced by the trading platform.
A judge has upheld IAG’s privilege claim over a technical paper prepared by an actuarial consultant, finding that the report was not merely forwarded to the legal team to cloak it in privilege.
CBA plans to file a cross-appeal in the class actions before the High Court, contending the shareholders -- who argue they should have won their loss case -- failed to establish disclosure breaches at the threshold.
The corporate regulator is challenging insurer IAG's claims of legal professional privilege over a technical report in proceedings over allegedly misleading loyalty discounts.
The Takeovers Panel has found Cosette cannot close a Mayne Pharma drug manufacturing plant in Adelaide, another win for Mayne in its push to block the US drug maker from walking away from their $672 million merger.